Overview of Progress in the Implementation of the G20 Recommendations for Strengthening Financial Stability
Since the onset of the global financial crisis, the G20 has established core elements of a new global financial regulatory framework that will make the financial system more resilient and better able to serve the needs of the real economy.
National authorities and international bodies, with the Financial Stability Board (FSB) as a central locus of coordination, have further advanced this financial reform programme, based on clear principles and timetables for implementation.
The FSB coordinates and closely monitors the national implementation of agreed G20 and FSB financial reforms and is responsible for reporting on it to the G20. The FSB set up in October 2011 a Coordination Framework for Implementation Monitoring (CFIM), in collaboration with international standard-setting bodies (SSBs), to intensify its monitoring and public reporting on implementation, focusing in particular on priority reform areas.
This report details the progress made in global policy development and in implementation of global policy reforms since the G20 Cannes Summit in November 2011. Continue reading